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Lilis Energy Announces Delaware Basin Acquisition

Lilis Energy, Inc. (NYSE American: LLEX), an exploration and development company operating in the Permian Basin of West Texas and Southeastern New Mexico announced today that it has entered into a definitive purchase and sale agreement with OneEnergy Partners Operating, LLC (“OEP”) to acquire approximately 2,798 net acres in the Delaware Basin and associated production of approximately 425 net Boepd (the “Acquisition”).  Aggregate consideration for the Acquisition is $70 million, consisting of $40 million in cash and $30 million of the Company’s common stock (1), subject